Business » Asia
Tuesday, 1 May 2012
GERMAN sportswear maker Adidas reported yesterday a strong rise in first-quarter profits but warned full-year earnings would be hit by the discovery of irregularities in its Indian business.Adidas reported a net profit of €289 million (US$383...
INDIA yesterday ended recent restrictions on cotton exports, six weeks after partially reversing a ban it had imposed on overseas sales.India, the world's second-largest producer of cotton, last month stopped all exports of the crop, saying it...
BEIJING yesterday unveiled guidelines aimed at boosting imports, just days ahead of a key meeting with the United States expected to address China's politically sensitive trade surplus.The powerful State Council, or cabinet, said China would "...
JAPAN'S foreign minister met Indian officials in New Delhi yesterday to discuss increased political, security and economic cooperation between the two nations. Koichiro Gemba and Indian Foreign Minister SM Krishna led wide-ranging annual...
Chlorine found in batch of drinksCOCA-COLA has been ordered to temporarily halt production at a bottling plant in northern China, after media reports of chlorine in its products, according to a government statement.Shanxi province ordered an...
JAPANESE car giant Toyota Motor will post a full-year operating profit of US$4.3 billion, nearly 30 per cent above forecast, when it announces its earning results next week, a report said yesterday.The Nikkei business daily said the firm will reveal...
CHINA Eastern Airlines Co. is buying 20 Boeing 777 jets worth nearly US$6 billion while also selling five Airbus A340s to the US plane maker because they're costlier to run, the Shanghai-based airline said Monday. The airline said it's selling...
National Australia Bank cuts 1,400 jobsSYDNEY: National Australia Bank said yesterday it will cut more than 1,400 jobs in the UK as part of a US$305 million restructuring of its banking business there. NAB said the need for change at Clydesdale...
Saturday, 28 April 2012
THE Asian Development Bank (ADB) said yesterday funding for its concessional loan facility for low-income countries may increase by about 6 percent to around US$12 billion despite economic and fiscal constraints faced by donor countries.!The final...
JAPAN'S Mazda Motor said yesterday it lost US$1.3 billion over the last year as it took a double hit from the strong yen and falling demand in key developed markets.Mazda, Japan's fifth-largest car maker by volume, reported a group net loss of ¥...
Friday, 27 April 2012
INDONESIA said it suspended imports of US beef Thursday following the discovery this week of an American dairy cow infected with mad cow disease. "We will lift the ban as soon as the US can assure us its dairy cows are free of mad cow...
NINTENDO Co sank into a ¥43.2 billion (US$533 million) loss for the fiscal year just ended as weak sales of the Wii home console and the strong yen eroded earnings. Kyoto-based Nintendo, once the star of video games with franchises like...
CHINESE Premier Wen Jiabao (pictured) announced yesterday a US$10 billion special credit line for central and eastern Europe to support cooperation projects mainly in the ex-communist region's infrastructure sector."To boost practical...
Mitsubishi Motors posts 53% profit riseTOKYO: Mitsubishi Motors said yesterday its net profit for the fiscal year to March soared 53.2 per cent, partly driven by cost cutting, even as its last-quarter results tumbled on a strong yen. Japan's fourth-...
Thursday, 26 April 2012
TWO major South Korean retailers suspended sales of US beef yesterday following the discovery of mad cow disease in a US dairy cow. Reaction elsewhere in Asia was muted with Japan saying there's no reason to restrict imports. South Korea's No 2...
THE United States' first reported mad cow disease case in six years will not affect negotiations about Japan's possible membership in a US-led Pacific trade pact, the government said yesterday.!For Washington, Japan's curbs on beef imports from...
NIPPON Steel has filed a US$1.25 billion lawsuit against South Korea's Posco over claims it stole key technology for a niche product, the Japanese firm and reports said yesterdat.The complaint, filed in Tokyo District Court, alleges Posco got hold...
FINANCE and central bank chiefs of Japan, South Korea, China and Southeast Asian countries are expected to approve next week a plan to raise countries' access to a regional fund to avert currency volatility, a senior Philippine official said on...
Japan panel eyes charge on solar power TOKYO: The head of a Japanese panel suggested yesterday that utilities pay 52 cents per kilowatt-hour (kwh) for solar power supplies in a renewable energy incentive scheme, a rate that could encourage...
CANADA is lifting sanctions in Myanmar following a wave of widely praised political reforms in the country. Foreign Affairs Minister John Baird said Tuesday the government there has changed course in a major way. Canada's decision follows a...
